Wednesday, November 18, 2015

Not that borrowing isn't the way to go.

The Fed gets to influence markets without ever having to do anything. And mostly it has worked to produce the false narrative of an advanced economy that is working splendidly well to the advantage of the common good.

This is all occurring against the background of a larger global network of economic relations that is quite clearly breaking apart. . . . The world is bankrupt after thirty years of borrowing from the future to throw a party in the present, and the authorities can’t acknowledge that.[1]

Note to self: Read "Obama: ‘We can afford’ $74B spending increase," Washington Times, 1/31/15.

[1] "The Leviathan." By James Howard Kunstler, Clusterfuck Nation, 11/9/15.

No comments: